Austria: Privatisation of Austrian companies

Article Abstract:

Martin Bartenstein, the Austrian economics minister neither supports further privatisation nor a definite involvement of the state in companies, which are of political importance. It is however agreed, that eventually Telekom Austria and the state owned printing house Strohal are to be completely privatised. Apart from that the public limited company OIAG, which is owned by the Austrian state, has major shares on several companies such as Bohler Uddeholm, Voest-Alpine, OMV and VA Tech. Nothing is to be changed about the OIAG's position in these companies. As Bartenstein explained on 12 December 2001, privatisation in the past was carried out in order to keep politics out of the OIAG and its associated companies. Although the state owned public limited company was mostly successful it could not help to get rid of the country's major debts, the minister argued. If there were more privatisation in the future the state would make sure to be replaced by an Austrian company as a major shareholder.

Government domestic functions, Other General Government Support, Government Enterprises-Total Govt, Public enterprises

---

Austria: No present further privatisation for OIAG

Article Abstract:

Taking Telekom Austria shares off the market is only one of the options being considered according to a representative of the majority share holder, OIAG, the privatisation holding company. This is only an option, following Telecom Italia's decision to rid itself of its Telekom Austria shares. He added that except for a second sales tranche to take place in Telekom Austria for the 12 to 18 months following January 2002, the OIAG was planning no more privatisation in this period of legislation, except for the sale of Strohal-Druck. The sale of VA Tech, Voest-Alpine and other companies is not intended. Through the privatisation, the OIAG has managed to reduce its debts from Sch 59bn to 27.5bn.

Telekom Austria AG

---

AUSTRIA: TELEKOM AUSTRIA SUBSCRIPTION STARTS

Article Abstract:

In the biggest ever capital market transaction in Austria, the subscription of the shares of Telekom Austria (TA) started on 2 November 2000. OIAG is selling 140mn rather than 125mn shares, which means that state ownership of TA falls to 47%. Due to the situation on the stock markets, the issue price was set at EUR 9-12. This means that OIAG will raise between Sch 17.33bn and Sch 23.12bn, while the original estimate had been up to Sch 35bn.

Telekom Austria

Similar abstracts:

• Abstracts: Austria: Cooperation between gas companies? AUSTRIA: OMV TO OFFER TELECOMS INFRASTRUCTURE. AUSTRIA/HUNGARY/CROATIA: TALKS ON OIL ALLIANCE
• Abstracts: Many cities rethink privatization plans. Bombardier Inc. Italian airports clutter investor radar
• Abstracts: A case of mistaken identity? A solution for AIDS? Generic genius
• Abstracts: Houses of cards: American banks. Charge! Credit cards
• Abstracts: People: vision to communicate. People virtually real. People future shock

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.